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Credit Suisse Securities and KKR announce US$732.55M music-rights bond offering

Date Closed

February 14, 2022

Lead Office



732.55 Million USD

On February 3, 2022, KKR announced it was raising US$732.55 million of asset-backed securities supported by publishing and sound recording royalties from Kobalt, a music catalog that KKR previously purchased for US$1.1 billion. The music catalog purchased by KKR consists of 65,000 songs including hits from The Weeknd, Stevie Nicks, and Childish Gambino. The bonds offering is being led by Credit Suisse Securities (USA) LLC (Credit Suisse Securities) and KKR, and are expected to achieve an ‘A’ rating from Kroll Bond Rating Agency.

Credit Suisse Securities, based in New York, is one of the world's largest financial services providers offering private banking, investment banking, and asset management.

KKR is a New York based global investment firm that offers alternative asset management as well as capital markets and insurance solutions.

McCarthy Tetrault advised Credit Suisse Securities with a team led by Michael McConnell that included Nishant Jain (Business), D.J. Lynde and Noel Chow (Financial Services).